GoTyme Bank, a Philippine-based bank and joint venture between Gokongwei Group and Tyme Group, has partnered with Alpaca to launch a crypto investment feature.
The brokerage infrastructure API provider offers the bank access to crypto stocks, ETFs, options, and fixed income as the demand for crypto solutions rises globally. The Philippines ranks ninth in adoption and 20th in crypto wealth, with 10% of Filipinos utilising crypto, meaning projected 12.79 million users by 2026.
This adoption is driven by demand for digital-first financial solutions among the country’s underbanked population, which reached 76%. The country’s friendly crypto landscape is driven by the government’s positive stance on digital assets and limited access to traditional financial solutions.
Improving trading experiences
Many Filipinos seek ways to diversify savings and avoid volatility, according to the bank, and most crypto apps target experienced traders, making investing intimidating for new and daily users. GoTyme Bank aims to eliminate the complexity, focusing on reliability and convenience by designing a solution for individuals looking to buy crypto confidently and without complex technical analysis or managing multiple apps.
Supported by Alpaca, GoTyme Bank customers can now start investing in crypto by easily adding funds to their dedicated GoTyme Crypto USD account using their GoTyme Bank Everyday current account, leveraging real-time market insights and news. Additionally, they have on-demand investment access to 11 selected cryptocurrencies, including Bitcoin, Solana, and Ethereum.
Alpaca expressed positive sentiments regarding the alliance, saying that it will support GoTyme Bank in making crypto trading simple and accessible for daily users, leveraging the industry’s momentum to support Filipinos in participating in the global economy and building wealth.
GoTyme Bank’s mission is to become a transformative bank in the country, helping citizens unlock more financial opportunities. The launch signifies another step in the bank’s vision to deliver financial solutions that unify security, simplicity, and modern developments. The partnership with Alpaca unlocks global expertise to local customers, ensuring they have what they need to participate in the digital economy.
